The UAE and the International Renewable Energy Agency (IRENA) on Wednesday announced the Energy Transition Accelerator Financing (ETAF), a new global climate finance facility to accelerate the transition to renewable energy in developing countries. The UAE committed $400 million in funding provided by the Abu Dhabi Fund for Development (ADFD)...

The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions that were affected by wildfires and floods that swept through these areas.

Tom de Bruijn’s comments came during a business forum hosted in Dubai as part of a high-level trade mission to the UAE joined by 50 leading Dutch companies active in key sectors such as water, energy, food, urban design and logistics. The minister described the forum and Expo 2020 Dubai...

Lebanese Information Minister George Kordahi triggered the dispute with an interview recorded in August and aired last week. In it, he said that Yemen's Iran-backed Huthi rebels were "defending themselves... against an external aggression". Lebanon on Monday called for talks with Saudi Arabia to ease the dispute.

The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS in an exclusive interview.

The firm expects the assets to reach $500m within three years.

Representatives of 50 Dutch companies, led by the Dutch Minister for Foreign Trade and Development Cooperation Tom de Bruijn, arrived in the UAE as part of a trade mission aimed at strengthening trade relations between the two countries. More than 350 Dutch companies currently operate in the UAE and they...

Ding launched the second Ding Global Prepaid Index (GPI)in the United Arab Emirates and Saudi Arabia.

It will be the first time since the oil price crash in the second quarter of last year when the COVID-19 pandemic devastated demand that ADNOC has not implemented any supply cuts.

Japan aims to attract 60 million visitors annually by 2030 and it is looking to draw a large number of them from the Middle East.

The number of patient encounters was 6.7m, compared to 3.7m in 2020.

Several amendments to the Commercial Transactions Law related to cheques will contribute to raising the UAE's ranking in the Global Competitiveness Index, the Central Bank of the UAE (CBUAE) said on Monday. These amendments, which will come into effect on 2 Jan. 2022, are related to the decriminalization of cheques,...

InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and logistics.

The aggregate subscriber base increases by 4 percent YoY.

A key aim of the initiative was to understand how organised crime attempts to move illicit assets, such as the flows of cash and gold.

The move came a day after recalling its diplomats from Beirut over a Lebanese minister George Kordahi's remarks that Iran-backed Huthi rebels in Yemen were "defending themselves... against an external aggression", sparking a diplomatic row.

The listing is part of the company's expansion plan.

The UAE's payments industry, like several other countries in the world, suffered an impact far less severe than initially anticipated due to the Covid-19 pandemic, rising by 17 percent to $8.4 billion from 2015 to 2020, a report has said. The Boston Consulting Group (BCG) report, "Global Payments 2021: All...

A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for financial irregularities, and recovered sums to the tune of millions of dirhams from them. Many such people were also deported.

This is bad news for Lebanon, which had been counting on financial assistance from the Gulf to rescue its economy. Now, its ties have soured with four countries in the neighborhood because of comments made by its Information Minister George Kordahi.

The emirate is expected to see a growth of around 2.5 percent between 2021 and 2024.

A forum organized by the Sharjah Chamber of Commerce and Industry (SCCI) brought together more than 100 businesspersons from the UAE and Brazil to discuss cooperation and investment opportunities. The Sharjah-Sao Paulo Business Forum on Wednesday highlighted joint investment opportunities, encouraged cooperation and partnerships in various economic sectors. The forum...

The UAE will explore investment opportunities in the space economy and space tourism services besides other related ventures with Blue Origin, an aerospace manufacturer and spaceflight service company. In this direction, Abdullah bin Touq Al Marri, Minister of Economy, along with Dr. Ahmad Belhoul Al Falasi, Minister of State for...

Lebanese Information Minister George Kordahi had said the Iran-backed Huthi rebels are "defending themselves... against an external aggression" and "homes, villages, funerals and weddings were being bombed" by the coalition.

Network International, the UAE-based payment solutions firm, has posted a 19 percent jump in revenue in the third quarter, increasing values of payments processed in both the UAE and Jordan.

People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists.

The UAE’s Al Etihad Credit Bureau has joined hands with online financial aggregator Policybazaar UAE to implement real-time eligibility checks for credit card applications based on the AECB Credit Score and banks’ approval criteria.

ODL uses XRP for instant, low-cost cross-border payments.

The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future cities and urban planning, says SSC CEO Yousif Ahmed Al-Mutawa

Amir Lazar, chief of Israeli air force operations, told reporters the drills "don't focus on Iran", but army officials have said the Islamic republic remains Israel's top strategic threat and at the centre of much of its military planning.

The UAE's Ministry of Economy has signed an agreement with LinkedIn for developing a framework for skills-based talent besides identifying, attracting and retaining talent in the Emirates. This agreement is geared towards UAE Strategy for Talent Attraction and Retention in three areas--developing a comprehensive introductory framework for talent based on...

The competent authorities in the two countries will be able to develop specific procedures ensuring the unrestricted movement of vaccinated individuals. This is apparently part of the efforts made by the two countries’ governments to facilitate the safe movement of travelers under the Covid-19 pandemic.

Al Ghurair said that the strong Q2 financial results of the UAE banks was an indication that the banking industry is back on the growth path following the decline in Covid-19 pandemic

The United Arab Emirates, Bahrain, Sudan and Morocco all agreed to normalize ties with Israel in 2020, as Washington under the administration of then US President Donald Trump made Arab-Israeli rapprochement a foreign policy priority.

The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the company selling property at less than its real value.

There will be over 2,200 people in the bio-bubble this time.

The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition will take time.

The Meeting will focus on a number of key themes, including investing in the infrastructure for tomorrow such as cross-border connectivity, green financing, resilient healthcare infrastructure and the role of global multilateral institutions in contributing to supporting projects based on ESG principles.

The United Arab Emirates said Friday it had detained a journalist after comments they made off the air ahead of a televised international football match were hacked and posted online. The incident occurred shortly before the state-run Abu Dhabi Sports channel's live broadcast of the UAE-Iraq World Cup qualifying match...

The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is expected to grow by 5.1 percent next year.

Non-resident foreign investors can obtain a virtual license for doing business in Abu Dhabi from any location outside the UAE and without having to meet residence procedures. The Abu Dhabi Department of Economic Development (ADDED) made this announcement at the 41st session of the GITEX Global (Dubai 2021). Mohamed Ali...

Etisalat Group and G42 have joined hands to merge their data centers, creating the UAE's largest data center provider. A total of 12 data centers will be merged under the joint venture operating under Khazna Data Centres. G42 and Etisalat Group will each own 60 percent and 40 percent of...

Owing to the decline in the transmission of coronavirus in the country, the United Arab Emirates has decided to relax the restrictions and permit citizens to take part in weddings and gatherings at home.

Although Dubai is set for a ‘modest’ recovery this year on the back of a high vaccination rate in the UAE and fewer Covid restrictions, but a slower rebound in international tourism could be a drag on the economy until the end of 2022.

The agreement is part of the UAE’s endeavors to strengthen and activate means of economic and investment cooperation globally.

Gulf Islamic Investment of UAE will invest $500 million in India over the next three years as it takes steps to set up an office in Bangalore.

The funds will be used to develop and rollout Open Finance platform.

Overall, the Middle East, North Africa and Turkey (MENAT) was the highest-ranking region for the quality of life, with 71 percent of expats recommending it, according to a survey commissioned by HSBC Bank. More than 20,000 expats in 46 countries were questioned for the survey.

Over 3,000 government officials, business leaders and industry experts representing 91 countries took part in the 6th Global Business Forum (GBF) Africa in Dubai, conducted by the Economist Intelligence Unit, which featured two days of thought-provoking sessions highlighting business opportunities emerging across the continent.

The birthplace of the Arab Spring uprisings, Tunisia has faced years of economic woes exacerbated by the coronavirus pandemic, with 18 percent unemployment and debt verging on 100 percent of gross domestic product.